Scarcity of skilled franchise professionals is a grave concern for the Indian franchise industry. Taking an initiative, brands are setting up academies to impart professional training to excel in all realms of franchising. Read on to know what these acade
With each passing day and the franchise industry being more organised, franchisors are realising the growing need to professionals to run the business successfully and strategically. Thus some are setting up their own academies while others are tying up with companies that can provide professional training to the employees to function better. Also various other academies are introducing courses in franchising to cash in on the boom in this industry.
With each passing day, innovation and perfection seem to be the key words for ruling the success of a brand. Both these phenomena’s require great effort and thinking which comes from professionals. To cater to professionals from their own industry, franchisors are setting up their own academies to impart the best of all worlds for their line of work. Ferns N Petal (FNP), a flower retail chain is all set to launch an academy to train florists. For this, the company has partnered with Lee Flower Design Academy from Malaysia. The FNP Academy would impart training in floral designing to prepare manpower according to its standards required to create premium products. Additionally, it will also cater to varied consumers including amateurs, aspiring professionals and housewives.
Aptech has tied-up with TRRAIN Foundation. The collaboration will help people working in the retail sector develop their skills in retail management and effective communication. The collaboration aims at training 20,000 people in three years in major cities like Mumbai, Bengaluru, Delhi, Hyderabad. Aptech will be providing content, training and the academic support processes to run the training program, while TRRAIN will provide the infrastructure required (be it mobile education centres or classrooms) at retail dominant locations like malls and high streets to conduct these programs.
Francorp and Jaipuria Institute of Management (JIM), initiated a structured and certified Franchise training course to be held at JIM Indore with the support of Indian Franchise Association (IFA). It was a week long program offering exhaustive study to create an in depth knowledge on franchising. Leveraging on the practical examples, students learnt essentials of franchising and went through multiple case studies. IFA also tied up with Centre of Management to offer exhaustive study to create an in-depth knowledge on franchising. It is offering a Professional Diploma in Franchise Management course to discuss globally successful cases in franchise and their best practices. The course line shall deal in detail with the conceptual framework of franchising, market and business model feasibility analysis and evaluation, making the franchise business plan, execution of business plan catering to legal, operational, financial, marketing, branding and promotional dimensions etc.
‘Empower through Education’ is an initiative of RE/MAX Academy of Real Estate India, aiming at creating a pool of real estate professionals. For initial six months the company will launch academies through their existing franchisees adding value to them.
Raison d'etre for launch
The reason for the launch of these academies is really simple: The need! The Indian Franchising industry is likely to be around $7.2 billion and escalating at a growth rate of 25-30 percent annually. Conversely, the most vital issues that the franchise marketplace faces today is the colossal shortage of skilled manpower. In the coming few years, the demand for skilled professionals is said to reach a two million mark. To fill in this wide gap, franchise companies have taken the matter in their hands to launch academies for imparting the perfect knowledge to create a pool of skilled professionals. Akhil Shahani, Managing Director, Centre For Management, says, "Many international and Indian companies have chosen franchising as their path to expansion. Offering a Professional Diploma in Franchise Management will educate a new breed of internationally skilled managers and entrepreneurs who will contribute to the stratospheric growth of this industry." Giving his opinion Dr. Gautam Raj Jain, Director JIM Indore and Chair, Entrepreneurship and innovation, said, “Keeping the current market scenario and the entrepreneurial criticality of franchising business in mind, this unique course is conceptualised with a mission to impart the highest standards of quality franchise training and education for the management students, professionals and entrepreneurs.” Adding to what professionals already know is what APTECH and TRRAIN are focusing on. B. S. Nagesh, Founder, TRRAIN, “We believe our tie–up with Aptech will enable us in upgrading lives of people in retail both at work and home. Skill development is a key focus area for us and this collaboration will deliver very tangible results.”
Looking ahead we can see more academies opening up by brands across categories. This will help overcome the scarcity and help the industry increase by leaps and bounds.